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REGISTERED NUMBER: 02053948 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023

FOR

WILLSDEN STEEL LIMITED

WILLSDEN STEEL LIMITED (REGISTERED NUMBER: 02053948)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


WILLSDEN STEEL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTORS: R J Mustill
G R Binns





REGISTERED OFFICE: Unit 1
Airfield Business Park
Elvington
York
North Yorkshire
YO41 4AU





REGISTERED NUMBER: 02053948 (England and Wales)





ACCOUNTANT: CGA
Chartered Certified Accountants
3 & 4 Park Court
Riccall Road
Escrick
York
North Yorkshire
YO19 6ED

WILLSDEN STEEL LIMITED (REGISTERED NUMBER: 02053948)

STATEMENT OF FINANCIAL POSITION
31ST DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 60,815 60,189

CURRENT ASSETS
Stocks 221,050 171,842
Debtors 5 337,810 463,332
Cash at bank and in hand 665,426 579,621
1,224,286 1,214,795
CREDITORS
Amounts falling due within one year 6 606,588 604,976
NET CURRENT ASSETS 617,698 609,819
TOTAL ASSETS LESS CURRENT LIABILITIES 678,513 670,008

PROVISIONS FOR LIABILITIES 11,555 11,436
NET ASSETS 666,958 658,572

CAPITAL AND RESERVES
Called up share capital 15,000 15,000
Retained earnings 651,958 643,572
SHAREHOLDERS' FUNDS 666,958 658,572

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13th March 2024 and were signed on its behalf by:



R J Mustill - Director



G R Binns - Director


WILLSDEN STEEL LIMITED (REGISTERED NUMBER: 02053948)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023

1. STATUTORY INFORMATION

Willsden Steel Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered stated net of discounts and of Value Added Tax.

Income is recognised when the have been delivered to customers such that the risks and rewards of ownership have transferred to them.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - Over term of lease
Plant and machinery - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 5 ) .

WILLSDEN STEEL LIMITED (REGISTERED NUMBER: 02053948)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

4. TANGIBLE FIXED ASSETS
Short Plant and Motor Computer
leasehold machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1st January 2023 9,610 57,997 80,164 6,772 154,543
Additions - 14,500 - 1,659 16,159
Disposals - (7,800 ) - (414 ) (8,214 )
At 31st December 2023 9,610 64,697 80,164 8,017 162,488
DEPRECIATION
At 1st January 2023 9,610 48,208 33,332 3,204 94,354
Charge for year - 4,804 9,367 1,035 15,206
Eliminated on disposal - (7,526 ) - (361 ) (7,887 )
At 31st December 2023 9,610 45,486 42,699 3,878 101,673
NET BOOK VALUE
At 31st December 2023 - 19,211 37,465 4,139 60,815
At 31st December 2022 - 9,789 46,832 3,568 60,189

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 325,909 444,866
Other debtors 11,901 18,466
337,810 463,332

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 520,704 352,441
Taxation and social security 78,257 140,692
Other creditors 7,627 111,843
606,588 604,976

7. SECURED DEBTS

The following securities are in place with Nat West Bank Plc.

Charge created 09/03/1990
Debenture - Contains a specific equitable charge over all freehold and leasehold properties and/or the proceeds of sale thereof and floating charges over undertaking and all property and assets, present and future, including goodwill, book debts, and benefits of any licence..

8. RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed £Nil (2022 - £100,000) to members of key management personnel. No interest has been charged to the company in respect of this loan which is repayable on demand and is presented within creditors due within one year.